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EMEA organizations largely uninsured for cyber risks: Aon survey


European, Middle Eastern and African firms are uninsured for cyber losses, according to a survey issued Monday by Aon Risk Solutions.

The survey of more than 500 individuals, which was conducted by Traverse City, Michigan-based Ponemon Institute L.L.C., found only 15% of the probable maximum loss potential for information assets is covered by insurance. Survey respondents included finance, treasury, accounting and risk management officials, among others.

By comparison, 60% of total property, plant and equipment asset values are protected by insurance, according to the survey report.

Among other survey results, 7% of cyber insureds have limits of more than $21 million. A total of 38% of organizations have experienced a cyber loss in the past 24 months, averaging $3.3 million, according to the survey.

Thirty percent of businesses said they are “fully aware” of the economic and legal consequences of an international data beach or security exploit.